Reinhart, Carmen (2003): New approaches to crisis resolution: Weighing the options (A comment). Published in: Brookings Trade Forum 2003 (2003): pp. 338-348.
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Comments on: Barry Eichengreen, Kenneth Kletzer, and Ashoka Mody who describe the debate over collective action clauses, which have been considered by the G-7,G-10, G-20, G-22, G-30, Institute of International Finance (IIF),International Monetary Fund, International Monetary and Financial Committee(IMFC), Council of Foreign Relations (CFR), Emerging Markets Credit Association (EMCA), a variety of finance ministries, and others no doubt—although not, to my knowledge, the Boy Scouts of America (BSA). For those who have not received a merit badge in the language of internationalbureaucrats, collective action clauses allow a specified majority of bondholders to represent the interests of the totality of issuers in renegotiations with the issuer.
|Item Type:||MPRA Paper|
|Original Title:||New approaches to crisis resolution: Weighing the options (A comment)|
|English Title:||New approaches to crisis resolution: Weighing the options (A comment)|
|Keywords:||debt, restructuring, collective action, moral hazard|
|Subjects:||G - Financial Economics > G1 - General Financial Markets > G15 - International Financial Markets
G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation
|Depositing User:||Carmen Reinhart|
|Date Deposited:||06. Feb 2009 15:12|
|Last Modified:||13. Feb 2013 22:34|
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